The First Financial Goal
Are you prepared?
Having a clear and attainable number, a visible financial goal, is extremely useful. Instead of saying to yourself, “I can’t wait to be rich.” Try saying, “I can’t wait until I have a net worth of $30,000.”
Even better try saying, “I can’t wait until I have $2,500 in an emergency savings fund that can be accessed at any time.”
Our financial goals don’t have to be ridiculous. It’s important to want to achieve your maximum potential. If that maximum turns out to be $1,000,000 or even $1,000,000,000 in net worth—great. However, if your maximum financial potential isn’t this high, maybe striving for something that’s simple, like being relaxed in any emergency is a better option.
Start with the small steps first. Then move up.
Get out of debt. Learn how to use debt to obtain assets. Get an emergency savings fund. Create a ROTH IRA or Traditional IRA. Hire a CPA. Learn how to reduce your taxes.
Then aim higher.
Image credit: Unsplash